Basic Vehicle Loan
Get a new ride, with the right loan.
| Borrow Up to | Flexible payment terms | New and used cars | Interest rates from | |
|---|---|---|---|---|
| AED250k | 12 to 60 months | Yes | From 2.99%* p.a. |
Use Hire Purchase to fund new and used cars
- Loans for new and used vehicles-from franchised and HSBC MEFCO authorized dealers
- Flexible repayments over 12 to 60 months
- Can include insurance, service contracts and extended warranties
- No salary transfer required
- Salary starting from AED10,000 / month
- HSBC Current Account with no minimum balance requirement
- Mortgage is released when you've settled the loan
- 20% down payment required
Pay monthly instalments with Balloon Payment
- Reduced monthly instalments spread out over a period of time
- New vehicles-from franchised and HSBC MEFCO authorized dealers
- Used vehicles - restricted to current year model only
- Balloon values to be applied to the loan include:
- 12 months - 70%
- 24 months - 60%
- 36 months - 40%
- 48 months - 25%
- Repayable over 12 to 48 months
Plus:
- Can include insurance, service contracts and extended warranties
- Mortgage is released when you've settled the loan
V-KOOL window tinting and paint protection
Apply for an HSBC Auto Loan and you can include:
- V-KOOL window tinting - to prevent 99% harmful UV (Ultra Violet) rays
- V-KOOL paint protection - to enhance the durability of your car's paint
AXA Motor Insurance cover for saloons and 4WDs
- Comprehensive HSBC motor insurance available for saloons and 4WDs provided by AXA Gulf
- Single and multi-year policies
- Family members are covered as third parties
- Extended cover - includes visits to Oman
- Easy application procedure
| Description | Fee |
|---|---|
| Processing fee 1% of loan amount | Minimum AED500 |
| Maximum AED2‚500 | |
| Early settlement for car loan | 1% of remaining balance |
| Advance payment of instalment | 1% of advanced payment |
| Change of due dates on standing instructions | AED25 |
| Courier charges** | AED30 |
| Express charges** | AED450 |
| Instalment deferment charges | AED100 |
| Loan rescheduling fee | AED250 |
| Loan cancellation** | AED100 |
| Liability certificate | AED100 |
| Late payment fee | AED200 |
| Post-dated cheque service** | AED250 |
| Return cheque | AED100 |
| Release for repossession** | AED100 |
| Stop payment (per instrument/cheque) | AED50 |
| Statement request** | AED25 |
| Traffic letters service charges** | AED250 |
| Travel permission outside UAE** | AED300 |
Employed individuals buying New/Used Vehicles from Authorised Dealers.
- Valid Passport Copy with a valid UAE Visa
- Valid UAE Driving License copy
- Copy of three months Salary or Income transfer Bank statements (longer period maybe required if cheque returns are identified)
- Proof of Income - Salary Transfer Letter if Salary is not assigned to HSBC Bank or other Bank under narration Salary
- Original Quotation of Vehicle
- Repayment mechanism - Standing instruction plus security cheque from HSBC Bank
- HSBC MEFCO Application form & contract fully completed in Block letters & signed in presence of HSBC MEFCO staff
Self-employed individuals buying New/Used Vehicles from Authorised Dealers.
- Valid Passport Copy
- Valid UAE Driving License copy
- Copy of six months Personal and Business Bank statements
- Audited Financials for two years
- Original Quotation of Vehicle
- Repayment mechanism - Standing instruction plus security cheque from HSBC Bank
- HSBC MEFCO Application form & Contract fully completed in Block letters & signed
- Documents in support of Business/Partnership i.e. (Trade License copy, Memorandum of Association, Articles of Association, Power of Attorney Share Certificates etc..)
Choose a car that turns your head, but choose a loan that uses it.
Ready to apply? Have us call you
